if you buy something for £2.00 and sell it for £15.00 what percent profit do you make?

Answer 1

650% Profit.

15 - 2 = 13 your profit

13 / by 2 = 6.5

6.5 x 100 = 650%

As you can see I have been out of school for a few decades! :)

Answer 2

I think the answer is 650%. This is how I worked it out. You've made a profit of £13 on an original spend of £2. Therefore you need to ask - what is 13 as a percentage of 2? If you divide 13 by 2 (= 6.5) and multiply it by 100 you get 650. That's the percentage.

Answer 3

3 ways of looking at this -

1 - you have made £13 profit, divided by the original £2 is 650%
this is sometimes referred to as "margin"

2 - you have sold it for 750% of the buy price
this is sometime referred to as "mark-up"

3 - if it was a business with a turnover of £15 and profit £13 then they would have made 86.67% profit (£13/£15).
This is what is usually referred to as "profit"

Answer 4

£13 = 650% of £2

Answer 5

There are two answers to this. You can have Margin % which is Profit as % of sales (£13/£15x100 = 86.7%) and Mark Up which is Profit as % of cost (£13/£2x100 = 650%).
650% sounds a heck of alot more than 86.7% so retail companies talk margin. Hope that helps.

Answer 6

650% gross profit. If your expenses in selling it are £12 then you have made £1 net profit which is £1 divided by £15 percentage net profit - whatever that is

Answer 7

Your gross margin is £13

It can be expressed as a % of sales ie margin %
or a as a % on cost ie mark up %

margin to turnover ratio = margin/selling price = 13/15 = 86.7%
mark up = 13 as a % of 2 = 650%

there are your answers

Answer 8

Difference in price/ original price %
(15 -2) / 2 = 6.5 or 650%

Answer 9

650% profit!

Answer 10

650%